VWALX vs. VWAHX
Compare and contrast key facts about Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX).
VWALX is managed by Vanguard. It was launched on Nov 12, 2001. VWAHX is managed by Vanguard. It was launched on Dec 27, 1978.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VWALX or VWAHX.
Key characteristics
| VWALX | VWAHX | |
|---|---|---|
| YTD Return | 3.42% | 3.35% |
| 1Y Return | 11.25% | 11.16% |
| 3Y Return (Ann) | -0.32% | -0.40% |
| 5Y Return (Ann) | 1.65% | 1.57% |
| 10Y Return (Ann) | 3.21% | 3.13% |
| Sharpe Ratio | 2.65 | 2.63 |
| Sortino Ratio | 4.04 | 4.01 |
| Omega Ratio | 1.64 | 1.64 |
| Calmar Ratio | 0.96 | 0.94 |
| Martin Ratio | 13.07 | 12.94 |
| Ulcer Index | 0.85% | 0.85% |
| Daily Std Dev | 4.20% | 4.20% |
| Max Drawdown | -17.74% | -17.82% |
| Current Drawdown | -1.72% | -1.95% |
Correlation
The correlation between VWALX and VWAHX is 1.00, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
VWALX vs. VWAHX - Performance Comparison
The year-to-date returns for both stocks are quite close, with VWALX having a 3.42% return and VWAHX slightly lower at 3.35%. Both investments have delivered pretty close results over the past 10 years, with VWALX having a 3.21% annualized return and VWAHX not far behind at 3.13%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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VWALX vs. VWAHX - Expense Ratio Comparison
VWALX has a 0.09% expense ratio, which is lower than VWAHX's 0.17% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
VWALX vs. VWAHX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
VWALX vs. VWAHX - Dividend Comparison
VWALX's dividend yield for the trailing twelve months is around 3.78%, more than VWAHX's 3.70% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VWALX Vanguard High-Yield Tax-Exempt Fund Admiral Shares | 3.78% | 3.59% | 3.44% | 2.93% | 3.16% | 3.44% | 3.84% | 3.77% | 3.88% | 3.75% | 3.83% | 4.19% |
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | 3.70% | 3.53% | 3.37% | 2.86% | 3.09% | 3.36% | 3.79% | 3.69% | 3.75% | 3.69% | 3.78% | 4.12% |
Drawdowns
VWALX vs. VWAHX - Drawdown Comparison
The maximum VWALX drawdown since its inception was -17.74%, roughly equal to the maximum VWAHX drawdown of -17.82%. Use the drawdown chart below to compare losses from any high point for VWALX and VWAHX. For additional features, visit the drawdowns tool.
Volatility
VWALX vs. VWAHX - Volatility Comparison
Vanguard High-Yield Tax-Exempt Fund Admiral Shares (VWALX) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) have volatilities of 2.02% and 2.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.